The Minister for Gender ,Labour and Social Development, Betty Amongi has renewed Patrick Ayota’s tenure as NSSF deputy Managing Director but also appointed him to serve as the Managing Director on a caretaker basis.
In a statement released on Thursday afternoon, Patrick Ocailap, the deputy Secretary to the Treasury on behalf of the chairperson of the NSSF board indicated that Ayota’s contract has been renewed for a five year period.
“The processes leading to the appointment of the Managing Director have taken longer and in the interim, the deputy Managing Director will caretake the office until these processes are concluded,” Ocailap said.
Byarugaba, 61 was recently asked to step out of office by Minister Amongi after clocking the mandatory 60 years for retirement.
He will however have to wait to see if there is a change for reappointment on a two-year contract.
The Nile Post understands that whereas President Museveni wants Byarugaba back, the minister and NSSF board are against the same.
It awaits to be seen what will happen.
Named as NSSF Managing Director in 2010, the professional accountant is credited for having helped grow the fund from Shs8 trillion to Shs17.25 trillion.
NSSF also boasts of 1.3 million members, 620,000 of these being active.
The fund recently paid out shs1.9 trillion to eligible members in midterm payments after amendment of the law.